We're pleased to announce our investment in Bytebeam, a company focused on improving cloud infrastructure for smart devices with their comprehensive end-to-end platform.
The global IoT landscape is on the cusp of a massive transformation. IoT devices are projected to grow 10X this decade, with OEMs expected to spend $14.5 billion on IoT cloud infrastructure in 2023 alone. This spending is growing at an impressive 48% YoY, underscoring the critical role of cloud infrastructure in the smart device ecosystem.
Despite this growth, there is no established cloud offering that provides a complete solution for IoT workloads. OEMs often have to combine multiple services in-house or opt for professional services, which can cost between $1 million and $1.5 million and take 6-12 months to implement. This fragmented approach is particularly challenging for hardware companies, whose expertise lies in industrial design, manufacturing, and supply chain management—not backend infrastructure.
Bytebeam addresses these challenges by offering a one-stop cloud infrastructure solution for smart devices. Their platform covers:
- Data Use Cases: Setting up device gateways, collecting time-series data, and visualizing it.
- Mobile Use Cases: Enabling device-to-mobile backend sync for user control via mobile apps.
- Log/Alerts Use Cases: Collecting logs and managing alerts to catch device failures.
- Debug/Update Use Cases: Providing remote login and over-the-air firmware updates.
Bytebeam provides backend as a service for IoT, similar to what Firebase did for mobile applications. This is a natural progression for the ecosystem, akin to the evolution seen in the mobile and web app space.
The Bytebeam team has extensive experience across the entire tech stack for IoT, including hardware, firmware, and software engineering. Key team members include Ravi (CTO), who was the Ex-Data Platform Lead at Ather, ex-Intel, and is active in the open-source Rust ecosystem; Bharadwaj (Embedded Systems), who was the Ex-Embedded Systems VP at Grinntech and former lead of the embedded systems team at Ather; and Achal Kothari (Head of Business), an IIT M’11 graduate, Ex-Head of Customer Success at Haptik, and Business Advisor to Ather.
We believe Bytebeam is well-positioned to enhance the cloud infrastructure for smart devices. By providing an affordable, reliable, and scalable solution, Bytebeam has the potential to significantly impact the IoT landscape.
If you're someone who operates a fleet of smart/IoT devices, see how Bytebeam can help you manage your devices better at bytebeam.io.